Focus Financial Network Inc. Raises Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Focus Financial Network Inc. grew its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 2.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,258 shares of the financial services provider’s stock after purchasing an additional 28 shares during the quarter. Focus Financial Network Inc.’s holdings in Ameriprise Financial were worth $670,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Wingate Wealth Advisors Inc. purchased a new position in shares of Ameriprise Financial in the 4th quarter valued at about $30,000. Oakworth Capital Inc. purchased a new stake in shares of Ameriprise Financial during the third quarter worth approximately $31,000. Sound Income Strategies LLC acquired a new stake in Ameriprise Financial in the fourth quarter valued at approximately $36,000. Golden State Wealth Management LLC purchased a new position in Ameriprise Financial in the fourth quarter worth approximately $38,000. Finally, Peterson Financial Group Inc. acquired a new position in Ameriprise Financial during the 3rd quarter worth approximately $45,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on AMP. Keefe, Bruyette & Woods lifted their price objective on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research report on Monday, February 3rd. UBS Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $580.00 to $570.00 in a report on Monday, January 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $625.00 price objective on shares of Ameriprise Financial in a research report on Monday, February 3rd. Piper Sandler raised their target price on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research report on Friday, January 31st. Finally, Morgan Stanley upped their price target on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $510.44.

Ameriprise Financial Trading Down 0.4 %

NYSE:AMP opened at $526.80 on Thursday. The company has a market capitalization of $51.11 billion, a PE ratio of 15.93, a P/E/G ratio of 1.18 and a beta of 1.36. Ameriprise Financial, Inc. has a 52-week low of $385.74 and a 52-week high of $582.05. The stock’s 50 day moving average price is $542.68 and its 200 day moving average price is $504.00. The company has a quick ratio of 0.65, a current ratio of 0.59 and a debt-to-equity ratio of 1.01.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. On average, research analysts anticipate that Ameriprise Financial, Inc. will post 38.55 EPS for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 10th will be issued a $1.48 dividend. The ex-dividend date is Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.12%. Ameriprise Financial’s payout ratio is 17.91%.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the completion of the sale, the chief executive officer now directly owns 14,023 shares of the company’s stock, valued at $7,576,486.67. This represents a 29.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Profile

Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.